Aren’t you glad that today is April 15th? Have you paid your taxes yet? The answer to that is yes, you have paid your taxes. Every time you got your paycheck, you were also paying your taxes since they were withheld from you automatically. But have you filed your tax return yet? The good news is that the due date for tax filing this year is April 18th. TGIF!
For your entertainment, here are two videos. The first comes from ReasonTV about why you should pay your taxes.
Failure to pay taxes leads to Obama!
The next comes from Disney Studios as part of the war effort. Can you spot what really dates this cartoon? Hint: it’s not the anti-German or anti-Japanese stand.
What dates this cartoon is the discussion of saving money so taxes can be paid four times a year: March 15th, June 15th, September 15th, and December 15th. Because of the need for ready cash, tax collection was changed during World War II from quarterly payments to automatic deductions from the people’s paychecks. There is an unfortunate side effect of automatic payroll deductions, as explained by a government article:
Another important feature of the income tax that changed was the return to income tax withholding as had been done during the Civil War. This greatly eased the collection of the tax for both the taxpayer and the Bureau of Internal Revenue. However, it also greatly reduced the taxpayer’s awareness of the amount of tax being collected, i.e. it reduced the transparency of the tax, which made it easier to raise taxes in the future.
The top income tax rate rose from 68% in 1940 to 88% in 1942 to an astounding 94% in 1944. What sort of incentive does a hard-working business owner have to spend more time in the office or expand his business if his reward is the joy of being allowed to keep a mere six cents out of every dollar he earns? “But the rich should pay more than they already do! After all, they can afford it!” Yes, I have heard this cry from liberals. And most of the time they demand that “the rich” should pay more taxes. Rarely do liberals call for their own taxes to go up, but sometimes it happens. Author Stephen King asked a rally in Florida, “As a rich person, I pay 28 percent tax… what I want to ask you is, why am I not paying 50?”
That’s a good question. Why isn’t he paying more? If he really wants to pay more in taxes, nothing’s stopping him from voluntarily giving more money to the government. Does he need the heavy hand of government to force him (and everyone else, regardless of their personal inclinations) to pay more taxes?
Based on his own words, I guess he does. But he certainly doesn’t speak for me.